VEON (NASDAQ:VEON) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

VEON Ltd. (NASDAQ:VEON)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $52.45 and traded as high as $53.91. VEON shares last traded at $52.05, with a volume of 46,062 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Zacks Research lowered VEON from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 16th. Benchmark reissued a “buy” rating on shares of VEON in a research note on Monday, June 15th. Wall Street Zen lowered shares of VEON from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings cut shares of VEON from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Finally, Rothschild & Co Redburn set a $74.00 price target on shares of VEON and gave the stock a “buy” rating in a research note on Thursday, April 16th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $72.00.

VEON Price Performance

The company’s 50 day simple moving average is $52.73 and its 200 day simple moving average is $52.45. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 2.15. The stock has a market capitalization of $3.85 billion, a PE ratio of 6.98 and a beta of 1.64.

VEON (NASDAQ:VEON) last issued its quarterly earnings results on Thursday, April 30th. The Wireless communications provider reported $1.50 earnings per share for the quarter. VEON had a return on equity of 44.43% and a net margin of 11.65%. On average, equities analysts anticipate that VEON Ltd. will post 6.99 earnings per share for the current year.

Hedge Funds Weigh In On VEON

Institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in VEON by 36.8% during the second quarter. Osaic Holdings Inc. now owns 1,443 shares of the Wireless communications provider’s stock worth $66,000 after buying an additional 388 shares during the period. Royal Bank of Canada boosted its stake in VEON by 184.3% in the 4th quarter. Royal Bank of Canada now owns 2,431 shares of the Wireless communications provider’s stock worth $128,000 after buying an additional 1,576 shares during the last quarter. Truist Financial Corp grew its holdings in VEON by 5.1% in the 4th quarter. Truist Financial Corp now owns 4,014 shares of the Wireless communications provider’s stock valued at $211,000 after buying an additional 195 shares during the period. Personal CFO Solutions LLC grew its holdings in VEON by 7.0% in the 4th quarter. Personal CFO Solutions LLC now owns 4,097 shares of the Wireless communications provider’s stock valued at $215,000 after buying an additional 268 shares during the period. Finally, CWM LLC purchased a new stake in VEON in the 4th quarter valued at about $219,000. 21.30% of the stock is currently owned by institutional investors and hedge funds.

VEON Company Profile

VEON Ltd (NASDAQ: VEON) is a global telecommunications and digital services provider headquartered in Amsterdam, the Netherlands. Originally founded as VimpelCom in Russia in 1992, the company rebranded to VEON in 2017 to reflect its transformation into a technology-driven operator. VEON operates as a holding company with direct investments in mobile and internet service providers across multiple emerging markets, delivering voice, data and digital services to individual and enterprise customers.

Through its operating subsidiaries, VEON offers a broad portfolio that includes 2G/3G/4G mobile access, fixed broadband, digital lifestyle applications and mobile financial services.